Tenable (NASDAQ:TENB) Price Target Lowered to $37.00 at Jefferies Financial Group

Tenable (NASDAQ:TENB) had its price target decreased by Jefferies Financial Group from $45.00 to $37.00 in a research report released on Monday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other brokerages have also recently commented on TENB. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and dropped their target price for the company from $46.00 to $45.00 in a research report on Friday, January 17th. Truist Financial dropped their price objective on Tenable from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday. Barclays lifted their target price on Tenable from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Scotiabank raised their price target on shares of Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Cantor Fitzgerald started coverage on shares of Tenable in a research report on Monday. They set an “overweight” rating and a $50.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.13.

Tenable Stock Performance

NASDAQ TENB opened at $34.98 on Monday. Tenable has a 52-week low of $33.84 and a 52-week high of $50.07. The stock has a market cap of $4.21 billion, a PE ratio of -116.60 and a beta of 0.87. The firm has a 50-day moving average of $39.03 and a 200-day moving average of $40.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28.

Tenable (NASDAQ:TENB) last announced its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. On average, sell-side analysts anticipate that Tenable will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, Director Linda Kay Zecher sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the transaction, the director now owns 353 shares in the company, valued at $13,061. This trade represents a 87.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond Jr. Vicks sold 809 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $38.52, for a total transaction of $31,162.68. Following the completion of the sale, the director now owns 8,659 shares of the company’s stock, valued at approximately $333,544.68. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,937 shares of company stock worth $570,418. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Tenable by 858.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock worth $25,000 after purchasing an additional 575 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Tenable in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. bought a new position in Tenable in the fourth quarter valued at $38,000. Johnson Financial Group Inc. bought a new position in shares of Tenable during the 4th quarter valued at about $53,000. Finally, Larson Financial Group LLC raised its stake in shares of Tenable by 89.9% during the fourth quarter. Larson Financial Group LLC now owns 1,426 shares of the company’s stock worth $56,000 after acquiring an additional 675 shares in the last quarter. 89.06% of the stock is owned by institutional investors.

Tenable Company Profile

Tenable Holdings, Inc provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Its platforms include Tenable Vulnerability Management, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable Cloud Security, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable Identity Exposure, a solution to secure Active Directory environments; Tenable Web App Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; Tenable Attack Surface Management, an external attack surface management solution; Tenable Security Center, an on-premises solution that provides a risk-based view of an organization’s IT, security and compliance posture; and Tenable OT Security, an operational technology security solution which provides threat detection, asset tracking, vulnerability management, and configuration control capabilities.